BoC Gov Macklem in an interview on Canadian television on Sunday (CTV):
- I think transitory to economists, means sort of not permanent
- I think to a lot of people, transitory means it's going to be over quickly and maybe I don't know exactly what the right word is, but it's probably something like you know, transitory but not short-lived.
- I do want to assure Canadians that we are going to keep inflation under control,
- And we have the tools, we have the mandate and we will be adjusting our tools to bring inflation back to target.
Transitory but not permanent and we have the tools and we'll use them. Nothing of much substance in all this IMO, not in terms of adding much value. Maybe you can make more out of it than me.
And, not having a go at Mr. Mac, other central bankers around the globe seem equally at sea.
